If Vince McMahon thought his return to the WWE board would be plain sailing he was wrong, as it would appear legal action has already been launched against him.
Having retired as WWE Chairman in July 2022 amidst plenty of allegations against him, Vince McMahon made a dramatic return to the company earlier this month and joined the Board of Directors. There has been plenty of discussion around whether he has come back to get involved in the creative direction again, or to push for a sale of the company.
The allegations against McMahon included allegations of $12 million in hush money paid over links to sexual assault. However, it would seem that there is already new pressure on the former Chairman for “breach of a fiduciary lawsuit”.
Correspondence has been published by Pro Wrestling Insider which took place between the Scott and Scott law firm and someone involved in the WWE shareholder derivative suit that was filed in June 2021 – a suit which was levelled against Vince McMahon after allegations of non-disclosure.
The lawyers highlight in the email that Vince McMahon caused a “major board shakeup by “forcing his way back onto the Board”. It also notes that this complaint may not just be limited to McMahon himself.
We hope to file a complaint against McMahon and possibly other directors/officers for breaching their duties to WWE and its shareholders.
Vince McMahon has already stated that he has full confidence in the management team of Nick Khan, Stephanie McMahon and Triple H, although this has not stopped reports that there are wrestlers within WWE who are worried by his return.